subject: Aarkstore Enterprise - Total To Acquire Uts Energy: A Move That Will Consolidate Totals [print this page] Aarkstore announce a new report " Total To Acquire UTS Energy: A Move That Will Consolidate Totals Canadian Oil Sands Operations - Deal Analysis" through its vast collection of market research report.
Summary
Total E&P Canada Ltd., a subsidiary of TOTAL S.A. (Total), signed an agreement to acquire UTS Energy Corporation (UTS Energy) for a purchase consideration of CAD 1,150 million ($1,088.05 million) or at CAD2.35 per share ($2.22 per share).
Under the terms of the agreement, UTS will transfer its assets, other than its Fort Hills interest, in the Athabasca region, Alberta. The purchase consideration includes a cash amount of CAD3.08 per share ($2.92 per share). Total will also acquire the cash held by UTS which is equivalent to CAD355 million ($335.88 million), or CAD0.73 per share ($0.7 per share).
The earn-in costs owed to UTS by its Fort Hills partners (approximately CAD 704 million) will be transferred to Total, which means that the net acquisition cost to Total for approximately 680 million barrels of resources is CAD0.65 per barrel ($0.61 per barrel).
The transaction is subject to regulatory approvals from the Canadian authorities and to the acceptance of the plan of arrangement by at least 66.67% of UTS shareholders attending a special shareholders meeting.
The transaction implies deal value of $0.62 per boe of contingent resources.
Scope
Rationale behind Total acquiring assets from UTS Energy
Strategic Benefits for the companies involved
Geography covered -Canada
Deal Financials and Valuations
Information on Total, UTS Energy
Reasons to buy
Develop a sound undestanding of the major M&As, Partnerships, And Joint Ventures taking place in North American Oil & Gas industry
Identify the most lucrative segments to leverage on the growth oppurtunities available in the Canadian oil & gas market
Get a detailed analysis of a deal to enable you to take better decisions
Know about the major companies, which are adopting a divestment or acquisition strategy to enhance their business portfolios
Learn about the key fiancial advisors in a particular segment in the Oil & Gas Industry
Understand the various means of raising funds from the market.
